Starbucks' Legal Financial Investment

This is a U.S. news story, published by MSN, that relates primarily to Starbucks news.

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Entertainment

Starbucks Quietly Became a Global Banking Giant

Summary

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50% Informative

Starbucks is a coffee shop on the outside and a financial institution behind the scenes.

It's so bizarre that it deserves a deeper look at their business model.

The My Starbucks Reward system is a clever way for Starbucks to invest your money without you even noticing.

The value of the system is so grand that if Starbucks was a traditional bank, it would rank in the top 2% of U.S. banks by deposit size.

Government bodies are starting to notice the trend of financial services coming from seemingly random companies.

Despite these financial services, these companies, unlike banks, face less stringent regulations.

In the United States , they've proposed new rules requiring companies offering certain financial services to register and comply with user protection laws.

Globally, countries are recognising the implications of this hybrid model.

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Informative language

Neutral language

Article tone

informal

Language

English

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not offensive

Hate speech